Sona Asset Management US LLC Invests $1.54 Million in Pyrophyte Acquisition Corp. II $PAII

Sona Asset Management US LLC acquired a new stake in Pyrophyte Acquisition Corp. II (NYSE:PAII) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 151,757 shares of the company’s stock, valued at approximately $1,540,000. Sona Asset Management US LLC owned 0.56% of Pyrophyte Acquisition Corp. II at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new stake in Pyrophyte Acquisition Corp. II during the 3rd quarter worth approximately $6,816,000. Westchester Capital Management LLC acquired a new position in Pyrophyte Acquisition Corp. II in the 4th quarter valued at approximately $2,515,000. First Trust Capital Management L.P. bought a new position in shares of Pyrophyte Acquisition Corp. II during the third quarter valued at $2,490,000. Mercuria Capital Strategies LLC bought a new position in shares of Pyrophyte Acquisition Corp. II during the fourth quarter valued at $2,515,000. Finally, Lineage Point Capital LP acquired a new position in shares of Pyrophyte Acquisition Corp. II during the fourth quarter worth $733,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Pyrophyte Acquisition Corp. II in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Pyrophyte Acquisition Corp. II currently has a consensus rating of “Sell”.

Pyrophyte Acquisition Corp. II Price Performance

Shares of PAII stock opened at $10.23 on Monday. Pyrophyte Acquisition Corp. II has a 1-year low of $9.92 and a 1-year high of $10.25. The stock has a 50-day moving average of $10.21 and a 200-day moving average of $10.15.

Pyrophyte Acquisition Corp. II (NYSE:PAII) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.05 EPS for the quarter.

About Pyrophyte Acquisition Corp. II

FTAC Parnassus Acquisition II Ltd is a special purpose acquisition company (“SPAC”) formed as an exempted Cayman Islands company and listed on the New York Stock Exchange under the ticker PAII. Like other blank check companies, its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. Since its initial public offering in early 2021, FTAC Parnassus Acquisition II has held its proceeds in trust pending the identification of a suitable target.

The company is sponsored by FTAC Management LLC in collaboration with Parnassus Investments, a San Francisco–based asset manager known for its long‐term, sustainable‐value approach.